Income Tax : Learn how to optimize home loan interest tax benefits for self-occupied and rented properties. Strategies include reducing capital...
Income Tax : Rental income from sub-letting is taxed as "Income from other sources," not "Income from house property." Deemed ownership rules a...
Income Tax : Learn about Benami property, its definitions, transactions, and legal implications under the PBPT Act. Find out who is involved an...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Unlock Tax Savings! Explore how strategic investments in under construction properties can lead to substantial benefits, including...
Income Tax : While presenting interim Budget 2019-20 FM proposed to exempt the levy of income tax on notional rent on a second self-occupied ho...
Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : Respondents submitted that the impugned orders did not suffer from any irregularity or illegality warranting interference under Ar...
Income Tax : ITAT Jodhpur held that addition of income and capital gain tax levied thereon is liable to be set aside as land not situated withi...
Corporate Law : NCLAT Delhi held that regulation 16A(3A) of the CIRP Regulations has to be followed for replacement of Authorised Representatives....
Income Tax : ITAT Ahmedabad rules on Bhaveshkumar Patel's appeal against disallowance of interest claim under Income Tax Act. Decision aligns w...
Fema / RBI : 2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR stat...
Madras High Court held that Powder Coating products like yokes, links and tubes amounts to works contract and hence the same is liable to tax under section 15(1) of the Puducherry Value Added Tax Act, 2007.
ITAT Nagpur quashed the penalty on Ravindra Kharche, finding no misreporting of income due to bona fide claims regarding gratuity exemption.
ITAT Mumbai held that adoption of value of land as determined by the Stamp Duty Authority without referring the valuation to Valuation Officer u/s. 50C of the Income Tax Act unjustified. Accordingly, matter restored for de novo adjudication.
Delhi High Court held that rental income earned from factory building it taxable under the head Income from house property and is eligible for deduction under provisions of section 24 of the Income Tax Act.
Rajasthan High Court held that in absence of migration, petitioner unable to login GST common portal due to which returns not uploaded and tax not deposited. Accordingly, authorities directed to immediately allow petitioner to login on GST portal.
ITAT Bangalore held that imposition of penalty under section 270A of the Income Tax Act on account of underreporting of income not justified as failing to furnish income tax return was bona fide.
Rental income from sub-letting is taxed as “Income from other sources,” not “Income from house property.” Deemed ownership rules apply to non-registered property owners.
Appellate authority could not condone delay beyond four months under section 107 and this discretion conferred upon the appellate authority was restricted to condoning the delay only for a maximum period of one month.
Learn about Benami property, its definitions, transactions, and legal implications under the PBPT Act. Find out who is involved and how confiscation occurs.
Supreme Court held that State Bar Councils (SBCs) cannot charge an enrolment fee or miscellaneous fees above the amount prescribed in Section 24(1)(f) of the Advocates Act, 1961.
